fastjet, the low-cost African airline, is pleased to announce that, following the announcement earlier today regarding the launch of a proposed placing (the "Placing"), it has successfully placed 66,495,310 new ordinary shares (the "Placing Shares") at a price of 8 pence per share (the "Placing Price") raising gross proceeds of £5.3 million (c. US$7.0 million). In addition, as announced earlier today, the Company has entered a subscription agreement with Solenta Aviation Holdings Limited ("Solenta") in respect of which Solenta has agreed to subscribe for 28,924,538 new ordinary shares (the "Solenta Subscription Shares") at the Placing Price raising gross proceeds of £2.3 million (c. US$3.0 million) (the "Subscription"), subject to completion of the Placing. In aggregate, the Placing and Subscription have raised gross proceeds of £7.6 million (c. US$10.0 million).

The Placing was conducted by way of an accelerated book-building process. Liberum Capital Limited ("Liberum") acted as sole bookrunner on the Placing.

The Placing Price represents a premium of approximately 146 per cent. to the closing price of 3.25 pence per ordinary share on 28 June 2018, being the last business day prior to the announcement of the Placing.

Application will be made for the Placing Shares and Solenta Subscription Shares, in aggregate 95,419,848 ordinary shares, to be admitted to trading on AIM, which is expected to occur at 8.00am on 5 July 2018.

Related Party Transaction

M&G Investment Management Ltd, by virtue of it holding more than 10 per cent. of the existing issued share capital of the Company, is considered a related party of the Company and their participation in the Placing is therefore a related party transaction under the AIM Rules for Companies. The Directors consider, having consulted with the Company's Nominated Adviser, that the terms of the Placing are fair and reasonable in so far as its Shareholders are concerned.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014.